WAYS TO GIVE: MAXIMIZING YOUR IMPACT
Thank you for supporting the Do Only Good Everyday Foundation. Your generosity directly powers real-world relief initiatives, community outreach, and critical support programs.
To help our supporters give as effectively as possible, we accept both traditional fiat cash and direct cryptocurrency donations. Because the IRS treats these assets differently, choosing how you give can unlock massive personal tax benefits.
Review our guide below to choose the method that best aligns with your goals.
OPTION 1: THE POWER OF DIRECT CRYPTO DONATIONS
The IRS classifies cryptocurrency and digital assets as property, not currency. This distinction creates a massive double tax advantage for donors who transfer crypto directly to our foundation wallet rather than selling it first.
1. Zero Capital Gains Tax Triggered
If you sell your cryptocurrency on an exchange to donate cash, you trigger a taxable event. You will owe up to 20 percent or more in federal capital gains taxes depending on your income bracket, plus any applicable state taxes and high-income surcharges.
- By donating your cryptocurrency directly to our foundation, no capital gains tax is triggered. * The transfer is completely exempt, allowing 100 percent of your portfolio gains to fund the cause.
2. Full Fair-Market Value Tax Deduction
If you have held your digital assets as an investment for more than one year, you are eligible to claim a charitable deduction for the full fair-market value of the crypto at the exact date and time of the transfer. This means you receive a tax write-off for the full appreciated value of your assets without ever paying a single dollar in tax to realize those profits.
3. Ultra-Low Transaction Overhead
Traditional credit cards and banking networks can eat up 3 to 5 percent of your contribution in processing fees. On-chain digital asset transfers incur fractional processing overhead, ensuring almost every cent goes directly into real-world impact.
OPTION 2: TRADITIONAL FIAT AND CASH DONATIONS
For many donors, traditional cash, check, or bank wire donations remain the most straightforward route to support our day-to-day operations. Cash donations offer immediate liquidity and come with unique tax advantages.
1. High Adjusted Gross Income Deduction Caps
If you itemize deductions on your tax return, the IRS allows you to deduct cash contributions up to 60 percent of your Adjusted Gross Income (AGI). Any excess deduction amounts can be carried forward to offset your tax liability for up to five future tax years.
2. Above-the-Line Standard Deductions
Even if you do not itemize your deductions and choose to take the standard deduction, tax codes provide unique opportunities for cash givers. Non-itemizers can claim an “above-the-line” deduction for cash contributions made directly to qualified public charities, helping you lower your taxable income effortlessly.
3. Instant Operational Execution
Cash donations hitting our corporate checking account provide instant operational agility. This allows our team to purchase relief supplies, fund emergency events, and deploy immediate resources on the ground without market conversion delays.
SIDE-BY-SIDE EFFICIENCY COMPARISON
To illustrate the financial difference, look at how a 10,000 dollar gift stacks up if you purchased the asset for 1,000 dollars years ago and sit in a 20 percent capital gains tax bracket:
| Financial Metric | Selling Crypto First & Donating Cash | Direct Crypto Transfer to Foundation |
|---|---|---|
| Initial Asset Value | 10,000 dollars | 10,000 dollars |
| Capital Gains Tax Owed | 1,800 dollars | 0 dollars |
| Amount Received by Foundation | 8,200 dollars | 10,000 dollars |
| Your Personal Tax Deduction | 8,200 dollars | 10,000 dollars |
By transferring the asset directly, you completely eliminate the tax friction, upgrade your personal deduction, and deliver 1,800 dollars more financial power straight to the charity.
KEY IRS COMPLIANCE SUBSTANTIATION GUIDELINES
To ensure your deductions clear perfectly with your accountant, keep these standard IRS guidelines in mind for your records:
- The One-Year Holding Threshold: To qualify for the full fair-market value deduction on non-cash assets like crypto, you must have held the asset for more than 12 months. Assets held for one year or less are capped at the lesser of your original cost basis or current market value.
- The 5,000 Dollar Appraisal Rule: For single non-cash contributions valued at over 5,000 dollars, the IRS requires the donor to file Form 8283 alongside a qualified appraisal to validate the deduction value.
- Official Donation Receipts: The Do Only Good Everyday Foundation provides formal donor acknowledgment receipts showing the exact date, asset type, and volume transferred for all contributions to secure your files.
LEGAL DISCLAIMER
This page is provided strictly for educational and general informational purposes and does not constitute formal legal, financial, or tax advice. Tax regulations vary significantly based on your filing status, bracket, and geographic location. Please consult with a certified public accountant CPA or qualified tax professional before finalizing any significant charitable contributions.